Dreamscape Networks cash advance approved to grow company

Company News

by Jessica Amir

Web hosting company, Dreamscape Networks (ASX:DN8) has had a $20 million three-year cash advance approved, which will enable it to grow in Australia and Singapore

The facility was approved by a major Australian bank and will help the company make further cash flow positive and earnings accretive acquisitions.

The business says the cash advance will also allow it to make its balance sheet work harder for shareholders.

Dreamscape Networks says having successfully purchased and integrated Net Logistics (Sydney) and Vodien Group (Singapore) it’s in a strong position for further growth.

Shares in Dreamscape Networks (ASX:DN8) are trading 2.38 per cent higher at 21.5 cents.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.